It’s no secret that the city of Detroit has made considerable gains in attracting businesses to open here since its emergence from bankruptcy more than a year ago, but there is one nagging issue that will never allow the city to again flourish: failing schools. With a rash of teacher “sick-outs” over the last few… [Continue Reading]
5 Things To Know Defending Your Company Against Detroit’s Claw Back
In approximately two weeks, certain contractors, vendors and other service providers who are the target of the city of Detroit’s attempt to claw back remittances made shortly before it declared Chapter 9 Bankruptcy will face the deadline for responding to the city’s lawsuit alleging preferential treatment of payment. As discussed in our previous blog posts… [Continue Reading]
Response to City of Detroit Claims Fast Approaching
If you or your company have been named as a defendant against the City of Detroit in its attempt to recover funds alleged to have been paid within the 90 days prior to the city’s Chapter 9 Bankruptcy filing, note that time is of the essence and your rights are in jeopardy. The Bankruptcy practice… [Continue Reading]
City of Detroit Seeking Money Back From Creditors
Toward the end of 2015, the City of Detroit made the decision to seek what has added up to be about $50 million in total payments made to various creditors prior to its July 2013 municipal bankruptcy filing. The reported lawsuits, filed against local vendors, contractors, IT firms and staffing outfits, allege that each company… [Continue Reading]
Guess what? You are probably right about what caused Detroit’s Bankruptcy…
Find out if you can say “I told you so…” In May 2014, Resnick Law, P.C. sponsored a survey to identify what the country thinks may have caused the Detroit Municipal bankruptcy. We created a list of the most frequent causes of municipal bankruptcy, and asked Michigan and the rest of the nation to identify which… [Continue Reading]
How to Discharge Non-Domestic Support Obligations Arising In Divorce
In most divorce cases, a final judgment of divorce creates monetary obligations from one spouse to the other. These inter-spouse divorce obligations are lawful debts and they are called “claims” for purposes of bankruptcy law. A debtor who files bankruptcy is asking the Court to discharge as many of these divorce “claims” as they can. … [Continue Reading]
What Happens If I Inherit Property Before Or After My Bankruptcy Case Is Filed?
Unexpected life events will continue to happen even after your bankruptcy case is filed. It is not uncommon for a debtor in a bankruptcy case to experience the loss of a loved one. Nor is it unusual for a debtor to learn that they will inherit money or property from that loved one. What happens… [Continue Reading]
Detroit Bankruptcy Court Rules Detroit Is Eligible To File Chapter 9 Bankruptcy
The City of Detroit filed a petition for Municipal bankruptcy protection under chapter 9 of the Bankruptcy Code on July 18, 2013. Case No. 13-53846. In a long anticipated decision, Bankruptcy Judge Steven Rhodes of the United States Bankruptcy Court for the Eastern District of Michigan held that the City of Detroit is eligible to be a… [Continue Reading]
Bankruptcy and Credit Reporting
The Fair Credit Reporting Act (FCRA or “the Act”) was created to ensure that information included in consumer credit reports is accurate. The Act requires consumer reporting agencies to adopt reasonable procedures to meet the needs of creditors for consumer credit information but also to ensure that the information is fair and equitable to the… [Continue Reading]
THE FEDERAL GOVERNMENT IS SHUTDOWN: THE UNITED STATES BANKRUPTCY COURT WILL REMAIN OPEN
Effective on October 1, 2013, the Federal Government has shutdown. Nevertheless, the U.S. Bankruptcy Court of the Eastern District of Michigan announced that its three locations in Detroit, Flint and Bay City, Michigan will remain open despite the shutdown and will continue full court operations until October 15, 2013. During this time, all court business… [Continue Reading]
